JinkoSolar (NYSE:JKS) Upgraded at Daiwa Securities Group

Daiwa Securities Group upgraded shares of JinkoSolar (NYSE:JKS) from a sell rating to a buy rating in a research note published on Tuesday morning, Marketbeat.com reports. They currently have $28.50 target price on the semiconductor company’s stock.

Several other research firms also recently weighed in on JKS. UBS Group restated a “neutral” rating on shares of JinkoSolar in a report on Friday, November 28th. Weiss Ratings reissued a “hold (c-)” rating on shares of JinkoSolar in a research report on Wednesday, December 24th. Wall Street Zen lowered shares of JinkoSolar from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Finally, Zacks Research cut shares of JinkoSolar from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 11th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, JinkoSolar currently has a consensus rating of “Reduce” and a consensus target price of $24.50.

JinkoSolar Price Performance

Shares of JKS opened at $25.62 on Tuesday. The business’s fifty day moving average is $26.15 and its 200 day moving average is $25.87. JinkoSolar has a 12-month low of $13.42 and a 12-month high of $31.88. The company has a quick ratio of 1.02, a current ratio of 1.30 and a debt-to-equity ratio of 1.07. The stock has a market cap of $1.32 billion, a P/E ratio of -2.80 and a beta of 0.55.

Hedge Funds Weigh In On JinkoSolar

A number of hedge funds have recently bought and sold shares of the company. Trexquant Investment LP boosted its position in JinkoSolar by 2.1% in the fourth quarter. Trexquant Investment LP now owns 42,378 shares of the semiconductor company’s stock worth $1,094,000 after purchasing an additional 889 shares during the last quarter. Profund Advisors LLC increased its position in shares of JinkoSolar by 5.3% during the 3rd quarter. Profund Advisors LLC now owns 18,650 shares of the semiconductor company’s stock valued at $448,000 after purchasing an additional 937 shares during the last quarter. Police & Firemen s Retirement System of New Jersey raised its stake in shares of JinkoSolar by 7.7% during the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 17,065 shares of the semiconductor company’s stock worth $440,000 after purchasing an additional 1,219 shares during the period. Raymond James Financial Inc. bought a new stake in shares of JinkoSolar during the 2nd quarter worth $47,000. Finally, Banque Cantonale Vaudoise purchased a new position in shares of JinkoSolar in the 4th quarter worth about $58,000. 35.82% of the stock is owned by hedge funds and other institutional investors.

JinkoSolar Company Profile

JinkoSolar Holding Co, Ltd. (NYSE: JKS) is a vertically integrated solar photovoltaic (PV) manufacturer headquartered in Shanghai, China. The company specializes in the design, development and production of high-performance solar modules, silicon wafers, solar cells and related components. Since its founding in 2006, JinkoSolar has become one of the world’s largest solar module suppliers, known for delivering reliable products to utility, commercial and residential customers.

JinkoSolar’s product portfolio encompasses a broad range of monocrystalline and polycrystalline PV modules, including half-cell, bifacial and high-efficiency Tiger module series.